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Japanese insurance firm replaces 34 staff with AI

Fukoku Mutual Life Insurance Company. News Release. Aug 9,2019 Financial Results for the Three Months Ended June 30, 2019. 05/01/2017 · Fukoku Mutual Life Insurance believes it will increase productivity by 30% and see a return on its investment in less than two years. The firm said it would save about 140m yen £1m a year after the 200m yen £1.4m AI system is installed this month. Maintaining it will. 05/01/2017 · For 34 staff at a Japanese insurance firm, that vision just became a reality. Fukoku Mutual Life Insurance is laying off the employees and replacing them with an artificial intelligence AI system that can calculate insurance payouts. The firm believes it will increase productivity by 30%. The return on investment for AI is making more sense – The move is expected to increase productivity by 30 percent and save around 140 million yen per year for Fukoku Mutual. Fukoku’s Watson system can analyze and interpret claim data including unstructured text, images, audio and video. 22/02/2017 · Japanese insurance firm Fukoku Mutual Life Insurance recently replaced 34 employees with artificial intelligence AI named IBM Watson. We chatted to the CEO of Genasys Technologies Steve Symes SS and head of architecture at Genasys Carl Monnig CM about this development in.

Japanese insurer Fukoku Mutual Life Insurance’s decision to replace 34 of its claim assessment employees with a cognitive system has made headlines around the world in recent weeks. In much of the media coverage, the move has been portrayed as the first major example of intelligent machines “stealing” white-collar jobs, a grim harbinger. 05/01/2017 · Artificial intelligence AI is replacing people that carry out payment assessments at a Japanese insurance company in the latest example of the increasing use of software robots in the financial services sector. According to Japanese publication The Mainichi, Fukoku Mutual Life Insurance is. 05/01/2017 · Insurance company Fukoku Mutual Life Insurance has announced the job losses, saying an artificial intelligence system will be able to do the work. The 34 employees currently work out payouts to policyholders when they make claims, but the move is set to save £1.4 million a year. 05/01/2017 · Japanese company replaces white-collar jobs with AI. Commentary: Fukoku Mutual Life Insurance thinks software will be more productive than mere humans.

For example, Fukoku Mutual Life Insurance in Japan is using the IBM Watson Explorer AI platform to classify diseases, injuries and surgical procedures as well as to calculate claims pay-outs. When policyholders call the hotline to make a claim, the system analyzes the. An insurance company in Japan announced that it will lay off more than 30 employees and replace them with an artificial intelligence system. The company says it hopes the AI will be 30% more productive. Skip to Content. Open Menu. Open search form. close overlay. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms. 20/08/2018 · For example, Tokyo-based Fukoku Mutual Life Insurance replaced its manual processes with an AI program that calculates policyholder payouts. The AI system is expected to increase productivity by 30% and deliver a return on its investment in less than two years.

Fukoku Mutual’s Use of AI Highlights.

02/01/2017 · But AI that can handle knowledge-based, white-collar work are also becoming increasingly competent. One Japanese insurance company, Fukoku Mutual Life Insurance, is reportedly replacing 34 human insurance claim workers with “IBM Watson Explorer,” starting by January 2017. 30/12/2016 · Fukoku Mutual Life Insurance Co. is planning to slash nearly 30 percent of its payment assessment department's human staff after it introduces an artificial intelligence AI system in January 2017 to improve operating efficiency. While concrete examples of AI.

บริษัทประกันภัย Fukoku Mutual Life Insurance ปลดพนักงานแล้วใช้ AI มาทำงานแทน พฤษภาคม 3, 2017 By Techsauce Team. 06/01/2017 · Fukoku Mutual Life Insurance in Japan is about to lay off 34 employees and replace them with an AI system. This new AI System will be able to calculate payouts to their policyholders and save the company about $1.2 million a year and increase efficiency by 30-percent. 03/01/2017 · The bots are already taking jobs – in Japan, that is. Fukoku Mutual Life Insurance is to replace 30pc of its existing workforce with AI based on IBM’s Watson technology. In a sign of what’s to come, the Japanese company will use IBM’s Watson Explorer to read medical certificates from.

Interestingly, when Japan’s Dai-Ichi Life Insurance recently introduced a Watson-based system to assess payments, unlike Fukoku Mutual Life, it did not cut staff numbers. The opportunity exists for life insurers to instead reassign those staff no longer required. [Guest Post] บริษัทประกันภัย Fukoku Mutual Life Insurance ปลดพนักงานแล้วใช้ AI มาทำงานแทน. April 25, 2017 AI and Robots, Big Data and Data Science, Cloud and Systems. 06/01/2017 · The AI will scan hospital records and medical certificates, and then extract data on injuries, patient medical histories and administered procedures to determine insurance payouts. Fukoku Life said it hoped the AI would increase productivity by 30 per cent, although final payments will still be processed by human staff. 05/01/2017 · Japanese life insurance company Fukoku Mutual is replacing 34 employees with AI derived from IBM's Watson. Automation is securing its place now even outside of the manufacturing sector. While not all jobs are at risk of machine replacement, that list seems to be growing smaller.

フコク生命公式サイト。このページでは会社概要についてご案内しています。. Fukoku Mutual Life Insurance n’est pas la seule firme japonaise à faire confiance à l’IA. La firme Dai-Ichi Life Insurance a elle aussi déjà introduit un système basé sur Watson pour calculer les paiements. Cependant, elle n’a pas renvoyé d’employés. Japan Post Insurance envisage également le. 23/10/2017 · For example, Japan-based Fukoku Mutual Life Insurance made waves in December when it announced that 34 claims FTEs would be replaced with an AI system based on IBM’s Watson Explorer that is designed to read medical records and other documents necessary to determine payment. In this case, the tasks that will be done by the Watson-esque system that is replacing workers at Fukoku Mutual Life Insurance Co. don’t sound much different from a typical computer program: scan for keywords, find values, check lookup tables, input all that information into an algorithm, spit out a recommendation.

Japanese insurance company Fukoku Mutual Life.

Fukoku Mutual Life Insurance in Japan uses IBM’s Watson Explorer AI to classify diseases, injuries and surgeries, as well as calculate pay-outs. Other Japanese insurers like Dai-Ichi are also using AI, as is GEICO in the US. GEICO’s virtual assistant, named Kate, helps users of GEICO’s mobile apps. 27/12/2016 · Japanese company fires its workers and replaces them with artificial intelligence. its workforce it can address the problem of its shrinking and rapidly ageing population. And the company itself – Fukoku Mutual Life Insurance. AI machines are going to be integrated into the work of government from next month. 01/04/2018 · The insurance industry is no different: how carriers identify, quantify, place, and manage risk is all predicated on the volume and quality of data they acquire during a policy’s life cycle. Most AI technologies will perform best when they have a high volume of data from a variety of sources.

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